Defensible Research Credit
Doesn’t have to be Difficult
The only legitimate and defensible way to claim the R&D tax credit is to track costs spent on R&D-related tasks as they are done. This is called Contemporaneous Nexus, and it’s what the IRS wants to see when auditing R&D credits. The only problem is, keeping track of R&D projects, labor, supplies, and contractor costs as it happens can be frustrating for both you and your employees. That’s what we’ve built – a cloud-based solution that makes it easy. Here’s how it works below.
4 STEPS TO THE BULLET-PROOF R&D TAX CREDIT
1. YOU NEED A GAME PLAN
Your work environment is most likely chaotic. On top of that, that body of law that defines the R&D Credit is complicated, and ever-evolving. You need a strategy to quickly isolate your Qualified Research Activities and Expenses from the rest of it. We can show you how – Call Us. In less than an hour, we’ll lay out a Game Plan for you at not cost, and show you exactly what you need to do to claim this tax credit that’s available to you.
2. BUILD YOUR CONTEMPORANEOUS NEXUS
Contemporaneous Nexus, by definition, is tracking qualified expenses against qualified activities as you’re spending the money. However, it doesn’t have to be difficult OR time consuming. Just before going home each day, your KEY INNOVATORS log into Armor and record time spent on R&D activities. It takes just 60 seconds each day, and they can do it from their desktop, or with our mobile app. Not sure what project qualifies for the credit? No problem. With Titan Armor, you’ll have the answers.
$6,185,774 CREDITS SAVED AND COUNTING
3. QUARTERLY REVIEWS TO KEEP YOU ON TRACK
Titan Armor provides the framework for your operation to ensure that projects meet all IRS requirements. Our Quarterly Reviews enable you to track your progress throughout the year, as well as identify opportunities to make adjustments. As IRS rules and interpretations change, Titan continuously updates the Armor interface and support. That means there are no surprises when it’s time to file your taxes – we’ll keep you on track.
4. AUTOMATED ANNUAL REPORT
At tax time, Armor applies the appropriate salary and vendor cost data to your project tracking data and finalizes your R&D Credit computation in a standardized report. It’s everything your CPA needs to defensibly claim your benefit on your tax return. No recreating data. No guess work. And no expensive consultants interviewing your employees and coming up with a Credit amount out of thin air. And if you’re audited? We’ll manage the exam, along side your CPA, at no additional cost (travel excluded). Titan has more experience dealing with auditors than any other firm in the game. Armed with that experience, we’ll leverage your Contemporaneous Nexus to successfully defend your R&D credit the right way – the bulletproof way.